Mr. John Miniotis reports

ABRASILVER ANNOUNCES FILING OF NI 43-101 TECHNICAL REPORT FOR INCREASED MINERAL RESOURCE ESTIMATE AT DIABLILLOS

Abrasilver Resource Corp. has filed on SEDAR+ a National Instrument 43-101 -- Standards of Disclosure for Mineral Projects (NI 43-101) compliant, independent technical report on its wholly owned Diablillos project in Salta province, Argentina.

Highlights of the updated report include:

• Significant growth: Measured indicated mineral resources at Diablillos now contain an estimated 258 million ounces silver equivalent, and the inferred mineral resource contains an additional eight Moz AgEq.
• Four conceptual open pits: The addition of the new high-grade JAC deposit, which will ultimately join the Oculto deposit, has further enhanced the overall quality of the mineral resource, and is expected to boost flexibility and the economic strength of the project in the upcoming prefeasibility study.
• Extensive exploration upside potential: Future drilling will focus on exploration targets, which include JAC North, Alpaca and the Oculto-Fantasma trends, each of which has the potential to continue to increase and add additional silver/gold mineralization.

The report titled "NI 43-101 Technical Report Mineral Resource Estimate Diablillos Project" is dated Jan. 10, 2024, has an effective date of Nov. 22, 2023, and supports the disclosure made by Abrasilver in its Nov. 27, 2023, press release titled "AbraSilver Reports 258 Million Silver-Equivalent Ounces Contained in M&I Categories, Substantially Increasing the Diablillos Mineral Resource Estimate." There are no material differences in the report from the results disclosed in the company's Nov. 27, 2023, press release. The report can be found under the company's profile on SEDAR+ and on the company's website.

Qualified persons

David O'Connor, PGeo, chief geologist for Abrasilver, is the qualified person as defined by NI 43-101, and he has reviewed and approved the scientific and technical information in this news release.

About Abrasilver Resource Corp.

Abrasilver is an advanced-stage exploration company focused on rapidly advancing its 100-per-cent-owned Diablillos silver-gold project in the mining-friendly Salta province of Argentina. The current measured and indicated mineral resource estimate for Diablillos consists of 53.3 million tonnes grading 87 grams per tonne silver and 0.79 gram per tonne gold, containing approximately 148 million ounces silver and 1.4 million ounces gold, with significant further exploration upside potential. In addition, the company has entered into an earn-in option and joint venture agreement with Teck on the La Coipita project, whereby Teck can finance up to $20-million (U.S.) in exploration expenditures and make certain other payments to earn up to an 80-per-cent interest. Abrasilver is listed on the TSX-V under the symbol ABRA and in the United States under the symbol ABBRF.

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